Have you perhaps read or encountered the new collaboration project between silverstackeruk of SPI and raymondspeaks of BRO?
Nope? Well, where the hell have you been?😅
I'm just kidding! Hive is vast and even when we are here every day, there are still things that we miss. So if this project is one that you are hearing for the first time and that you're like me who appreciate every HIVE that comes to my wallet, then read on.
Brief Background
Sometime in early June, Daily DAB was mentioned on the Saturday Savers Club which got me curious and naturally, I went on to check what it is.
My search led me to this post where I learnt about the partnership and what the project is all about. I had been meaning to write about it but the draft which I started then remained where it was, well until today when I decided to finalize and share it already.
The Daily DAB
So this is an income token on Layer 2. Accordingly, the goal behind this project is to "create a 100% HIVE ecosystem built around Daily DAB which pays a daily HIVE drip"¹ to its holders for a long time.
It was distributed through another token called DAB Bond (DBOND) which conducted two presale periods (4-10 June and 11-24 June) where interested users were able to buy DBOND with HIVE.
What attracted me initially was the buybacks offer which they mentioned to happen "6 months after launch providing an exit for investors and offering an overall very low to no-risk investment."²
And so I participated in the presale by sending 150 HIVE to the nominated Hive account during the first schedule. Received 150 DBOND on the 25th June which I have forgotten about and only staked the following day (26th).
Received some minted DAB tokens a few hours later and it continued for days until the HIVE drip started flowing in too.
This was the HIVE received from the dab-treasury for keeping the minted DAB tokens as liquid on my Hive Engine wallet. It got my brain screaming, "wow! it's even higher than staking 150 HP and curating with it! I should have bought more!"
Having DBOND is the only way to mint DAB (although DAB can now be bought in the open market).
And after giving it some thoughts, I decided to stake the DAB to mint DBOND which will give me a little bit more DAB which again gets staked and the cycle repeats or I may shift back to the other way whenever I want.
Here's how it goes:
My staked DBOND is minting DAB daily. And I have two options on what to do with that DAB, re:
👉 Keep the minted DAB liquid in my wallet and receive HIVE drips daily.
OR
👉 Stake the minted DAB and get DBOND daily which I can then stake to get more DAB.
The first option would give me HIVE drips every day and liquid DAB accumulates in my wallet which consequently increases the amount of HIVE dripped to me. This is earning passively.
The second option will grow my staked DBOND, hence more DAB staked too if I keep the process or I can opt to stake some of the DAB and keep the others liquid so I can receive HIVE drips as well. This is earning actively (and passively too because I often forget to stake the daily minted DAB so it stays liquid at some point and gives me HIVE drips).
Both are a win-win in my opinion.
Anyway, here are the current stats of both the tokens at the time of this writing:
DAB
- Circulating Supply: 10 Billion
- Total Supply: 335.88
- Max Supply: 335.88
- Stakable / 1 day Unstaking cool down
DAB Bond (DBOND)
- Circulating Supply: 31,746.663
- Total Supply: 31,747.663
- Max Supply: 1,000,420
- Stakable, 1 day Unstaking cool down
For further info and details, check them here or visit the @dailydab posts.
Personal Thoughts
It is nice to see this collaborative venture between HIVE OGs (if I may call them such) that runs within the Hive ecosystem. Both SPI and BRO have good records and it will be interesting to see how this new project will go from here.
There are other plans mentioned like releasing new tokens and possibly NFTs which will mint DAB. I shall personally be on the lookout for these. I like the fact that they are giving weekly updates which keep the community informed.
Meanwhile, I will keep staking the minted tokens and build a larger nest which will hopefully reward me more in the long run.
For infotainment only. Not an endorsement or investment advice. DYOR.
Lead image created on Canva. Logo/s from DailyDab. Screenshots from my wallet via LeoDex. 21072023/09:40ph